Asia Pacific Electromechanical Joining Servo Press Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 116 | Report Code: BMIRE00031824 | Category: Manufacturing and Construction
No. of Pages: 116 | Report Code: BMIRE00031824 | Category: Manufacturing and Construction
The Asia Pacific Electromechanical Joining Servo Press Market size is expected to reach US$ 79.84 million by 2031 from US$ 48.87 million in 2023. The market is estimated to record a CAGR of 6.3% from 2023-2031.
The electromechanical joining servo press market in Asia Pacific is segmented into Australia, South Korea, India, China, Japan, and the Rest of Asia Pacific. The region consists of various developing economies such as India, China, Thailand, Vietnam, Singapore, Taiwan, and New Zealand. These countries are experiencing a gradual increase in the adoption of advanced techniques such as artificial intelligence, automation, and machine learning in the automotive, medical, electrical and electronics, and other sectors. In addition, the growth of new vehicle registrations in the region is expected to propel the demand for electromechanical joining servo press in the coming years. Countries such as China, India, Australia, South Korea, and South Korea, on average, witnessed a 10% increase in new vehicle registrations from 2022 to 2023, as per the insights from OICA. This is anticipated to propel the electromechanical joining servo press market growth from 2023 to 2031. Asia Pacific is a hub for electronics manufacturing and a growing pool of dealers. Electronics manufacturing is a key part of the manufacturing export sector for many economies in Asia Pacific, including South Korea, mainland China, Japan, Malaysia, Singapore, the Philippines, Taiwan, Thailand, and Vietnam. In addition, the growing demand for medical devices in the region, owing to the increasing consumer spending and awareness toward health, is anticipated to fuel the electromechanical joining servo press market from 2023 to 2031.
Key segments that contributed to the derivation of the Electromechanical Joining Servo Press Market analysis are service stroke and application.
Electromechanical joining systems offer maximum energy efficiency, reduce CO2 emissions, and significantly reduce operating costs. The use of electromechanical joining servo presses in joining operations is becoming increasingly popular compared to the traditional hydraulic systems owing to their energy-saving benefits and forming capabilities. Reducing energy consumption and material waste contributes to CO2 reduction and helps manufacturers achieve a balance between carbon emission and absorption. Manufacturers in the automotive, aerospace, electrical, medical devices, and consumer electronics industries have benefited from the automation of mass production and the associated efficiency gains. Consumers, OEMs, and government across the globe are demanding more sustainable production processes in the entire value chain, and a product's ecological footprint is becoming an important factor for buyers. Also, government incentives aimed at promoting the adoption of sustainable production processes is fueling the demand for electromechanical servo presses which in turn have increased investments by the companies. These systems help reduce energy consumption without decreasing the quality of the products. Thus, the growing demand for energy efficiency during the manufacturing processes is expected to create opportunities in the electromechanical joining servo press market during the forecast period.
Based on country, the Asia Pacific electromechanical joining servo press market comprises China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held the largest share in 2024.
Key contributors to the growth of the electromechanical joining servo press market are medical device manufacturing, electronic equipment production, and automotive component manufacturing. The medical device industry is a growing market in China owing to the availability of suitable manufacturing infrastructure and research and development efforts toward the development of medical devices. China has dominated electronics manufacturing for decades. Despite recent trade with the US and COVID-19 restrictions, China remains major electronics manufacturing base. It exports nearly half of the world's cell phones and laptops and produces many of the subcomponents used in manufacturing.
Such a rise in the dominance of the country in medical devices and electronics equipment manufacturing is expected to propel the electromechanical joining servo press market during the forecast period. Automobile production in China rose by 11.6% from 2022 to 2023, with 30.16 million units produced in 2023 and registered sales of 30.09 million units in the same year, as per the insights from the China Association of Automobile Manufacturers. The sales of vehicles in China increased by 23.5% from 2022 to 2023; passenger vehicles dominated this rise with sales of 26.06 million units, recording a 7.2% surge as compared to the sales recorded in 2022. Such an increase in production and sales of automobiles in China is anticipated to fuel the demand for electromechanical joining servo press in joining operations in automotive manufacturing, which is likely to the market growth during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 48.87 Million |
| Market Size by 2031 | US$ 79.84 Million |
| Global CAGR (2023 - 2031) | 6.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Stroke
|
| Regions and Countries Covered | Asia Pacific
|
| Market leaders and key company profiles |
Some of the key players operating in the market include RARUK Automation Ltd, Kistler Group, JANOME Corporation, IAI Industrieroboter GmbH, CORETEC Inc, Dai-ichi Dentsu Ltd, Bosch Rexroth AG, SCHMIDT Technology GmbH, TOX PRESSOTECHNIK GmbH & Co.KG, and PROMESS INC among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Asia Pacific Electromechanical Joining Servo Press Market is valued at US$ 48.87 Million in 2023, it is projected to reach US$ 79.84 Million by 2031.
As per our report Asia Pacific Electromechanical Joining Servo Press Market, the market size is valued at US$ 48.87 Million in 2023, projecting it to reach US$ 79.84 Million by 2031. This translates to a CAGR of approximately 6.3% during the forecast period.
The Asia Pacific Electromechanical Joining Servo Press Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Electromechanical Joining Servo Press Market report:
The Asia Pacific Electromechanical Joining Servo Press Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Electromechanical Joining Servo Press Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Electromechanical Joining Servo Press Market value chain can benefit from the information contained in a comprehensive market report.
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